Latest in Tag: banks Highlight
Latest in Tag: banks
Small construction companies demand banks to support them
The small and medium-sized companies working in the construction sector demanded that the financing obstacles faced by these companies, especially the serious companies qualified to participate in the development plan adopted by the state, be canceled. According to Daker Abd Allah, a member of the board of directors of the Egyptian Federation For Construction & …
Banks granted credit facilities of EGP 1.413tn until July: CBE
Industry sector obtained 35.9% of total credit, agriculture sector share declines to 1%
3 banks contribute largest share of financing for housing loans
HDBEG contributes EGP 3.5bn to the CBE’s initiative, NBE gives EGP 2bn, and Banque Misr’ share accounts for 22.5%
Banks to begin implementing CBE’s decision to raise mandatory reserve ratio of deposits on Tuesday
The CBE’s decision pushes banks to expand the financing of SMEs, as banks are exempted for the same value of liquidity they put into them, according to experts
CBE raises banks’ reserve requirement
The Central Bank of Egypt (CBE) decided to raise the reserve requirement ratio of banks from 10% to 14%. The bank announced on Tuesday that this resolution will be applied starting 10 October. The CBE had maintained the reserve requirement ratio at 14% since 2001 until 2012, which was reduced gradually after the 25 January …
Banks in Egypt issue 2 million credit cards during H1 2017: CBE
The number of debit cards jumped to 17,562 million cards in June 2017, an increase of 5 million from December 2016
Banks’ profits in Egypt worth EGP 47.381bn by end of H2 2017: CBE
The five largest banks account for 69.52% of total profits, the top 10 earn EGP 38.072bn
Banks’ capital increases by EGP 128.42bn at end of June 2017: CBE
The return on average assets of banks operating in the Egyptian market reaches 2% in H1 2017, the return on average equity is 30.9%
CBE announces new BoD of state-owned banks beginning of next week
Okasha for NBE, El-Etreby for BM, Fayed for Banque du Caire, Kamal for Egyptian Arab Land Bank
New micro-finance initiative worth $2.8m launched in Egypt
Egypt’s micro-finance segment is gaining new momentum thanks to central bank and government initiatives
Limited changes in boards of government banks before end of September 2017
Two leaders expected to be sacked, 4 likely to stay, ambiguity surrounds one leader
Banks’ capital increases by EGP 13.74bn in April: CBE
The increase came as a result of using a part of the reserves, as well as the revaluation of capital in foreign exchange in some banks
41.9% increase in cash balances at banks in 2015/2016
Insurance companies’ total financial position reached EGP 65.8bn
Banks and real estate stocks “top pick” in wake of interest rate increase: analysts
Investors are more likely to pump more cash in these stocks to maximise profits
Banks consider impact of CBE’s decision to hike interest rates this week
CBE’s decision aims to curb inflation and ease its impacts after moving fuel prices, purchasing power expected to increase, says Negm
US dollar embarks on new wave of decline against pound, loses 20 piastres in 2 days
Banks give their clients up to $2,000 cash with no documents but precedent transactions
Private industrial sector accounted for 62.4% of credit facilities granted by banks to non-government economic sectors at the end of March 2017: CBE
The industrial sector accounted for 36.5% of the total credit facilities granted by banks; services for 28.5%; trade for 10.5%; and agriculture for 1.1%
Egypt’s top 5 banks accounted for 77.7% of total profits of banks operating in Egyptian market by end of March 2017: CBE
Total profits amounted to EGP 30.516bn at the end of first quarter of 2017, top 10 banks mark profits of EGP 26.234bn
Banks, EGX, government departments leave for 3 days starting Sunday for Eid al-Fitr
The Central Bank of Egypt (CBE) will suspend all of their bank operations operating in the local market for a period of three days starting from Sunday 25 June 2017 until Tuesday 27 June for the Eid al-Fitr holiday period. According to CBE’s, banks are set to return to work on Wednesday 28 June. Prime …
CBE completes electronic linking system with COMESA banks
The project is a new positive step towards supporting Egyptian economic relations with African countries, says CBE governor
Cooperation protocol between CGC and Egyptian Union of Microfinance to qualify 25 companies to obtain financing from banks
Companies were chosen across the country with a special focus on Upper Egypt, says Zo El Fokkar
Banks obliged to separate microfinance from retail loans
Trial project between civil associations and banks to benefit from digital services in obtaining financing and instalment payments, according to the CBE governor
Law controlling work of microfinance companies encourages banks to finance them: Ghada Waly
The CBE’s initiative supports these bodies before international financing institutions, young people and women are the largest benefiters
Banks and real estate shares among “Top Picks” after CBE move
Investors likely to inject cash in these stocks to maximise profits
Banks tend to maintain interest rates unchanged despite CBE’s 2% hike
Government banks offer highest return on savings in the local market and they need to study the impact of new rises on money cost
Pound flotation posed challenges for banks’ financial positions in 2016: Business News Index
SAIB, Audi, NBE recorded the lowest ratios of unregulated loans portfolios
Banks offering e-services have best retail banking: Business News index
Limited growth in retail banking portfolios of major banks due to the CBE’s regulations
Good performance indexes in banks by end of January: CBE
EGP 67.2bn increase in volume of deposits, EGP 52.8bn in loans
CIB named best bank in Egypt this year, Ahli United Bank most efficient, NBE dominates customer satisfaction: Business News
EG Bank doubles its financial position, remains fastest growing bank for the second year in a row
EBI organises 9th annual conference on enhancing financial inclusion in Egyptian banking sector
Institute also completes initial draft of the National Strategy for Financial Education